The cap-weighted version is about 8.2 percentage points higher than the equal-weighted one when comparing with the start of 2023. The S&P 500 weighted by market cap, or the amount of all of a stock's shares put together, is outperforming an equal-weighted version by the largest gap in more than two decades so far this year. Lea la cobertura del mercado de hoy en español aquí. CNBC's Christina Wilkie contributed reporting The release of Fed minutes on Wednesday from the May meeting could shed light on how central bankers are thinking about the possibility of further rate hikes.įirst-quarter earnings season is winding down, but notable reports loom from Zoom Video, Lowe's and Dick's Sporting Goods. Monday ushered in a relatively light week for economic data, with a second reading for first-quarter GDP slated for Thursday and the personal consumption expenditures gauge, the Fed's preferred inflation measure, due Friday. 'If the rest of the market doesn't participate, then there's an end to this,' said Sylvia Jablonski, CEO at Defiance ETFs, adding that stronger market breadth could come after the Federal Reserve's June meeting. While the technology trade may have further to run, some on Wall Street say stronger market breadth is needed for a rally to continue longer term. Led by technology stocks, equities continue grinding higher despite uncertainty in Washington and sticky inflation, with the S&P 500 hovering just below the 4,200 level. Major averages are coming off a winning week. 'Investors are starting to get concerned about what's happening with the debt ceiling talks, but on the other hand, the economy still is pretty strong, the job market's really strong,' said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance. Republicans insist on paring back spending to baseline 2022 levels, but Biden said that any cuts across the board without additional tax hikes are out of the question. Veteran negotiators on both sides resumed talks Monday morning in the Capitol, but mandatory government spending cuts remain a major obstacle.

ET to continue debt ceiling talks, with just 10 days left before the earliest date that Treasury Secretary Janet Yellen said the U.S. President Joe Biden and House Speaker Kevin McCarthy are set to meet Monday at 5:30 p.m. Monday's moves brought the tech-heavy index to its highest close and highest intraday level since August. The Nasdaq Composite gained 0.5% to settle at 12,720.78. The benchmark index inched 0.02% higher to finish at 4,192.63, while the Dow Jones Industrial Average lost 140.05 points, or 0.42%, to end at 33,286.58. The S&P 500 finished little changed on Monday as Wall Street awaited a pivotal debt ceiling meeting and government officials scrambled to avert a default. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit

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